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Dewa looks to raise Dh8b in IPO

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Dubai Electricity and Water Authority (Dewa) looks to raise as much as Dh8.06 billion ($2.19 billion) in its initial public offering (IPO), marking the largest such deal in the emirate since DP World in 2007, a Reuters report said.

The state utility firm’s public share sale kicks off the first of 10 planned listings of state-linked companies aimed at reviving Dubai’s local bourse.

Dewa set an indicative range for its shares on Thursday, with the company selling 3.25 billion shares, or 6.5 per cent of existing shares, at between Dh2.25 and Dh2.48 each, according to a statement.

An implied market capitalisation of as much as $33.76 billion would make Dewa the largest company on the Dubai Financial Market by market value, it said.

Emirates Investment Authority, state holding company ADQ, Multiply Group, Alpha Dhabi Partners and Investment Holdings Est will become cornerstone investors in the IPO with a total commitment of up to $1.3 billion, it said.

The IPO subscription for institutional and retail investors kicked off on Thursday, and the company expects shares to list and trade on the Dubai Financial Market on April 12.

Dewa said the selling shareholder – the Dubai government – reserved the right to increase the size of the offering at any time before the end of the subscription period, according to the report.

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Gopichand Hinduja: Honouring a visionary who strengthened the UAE–India business bridge

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The passing of Gopichand Hinduja, Co-Chairman of the Hinduja Group, marks the loss of a remarkable visionary whose leadership transcended borders and industries.  The chairman of the Hinduja Group and one of Britain’s wealthiest businessmen died in London on Tuesday, November 4, at the age of 85, according to PTI. Fondly known as ‘GP’ in global business circles, Hinduja had been unwell for several weeks and passed away in a London hospital, said sources.

Under his stewardship, the Hinduja Group evolved into a diversified multinational conglomerate spanning automotive, energy, banking, infrastructure, and technology, with a growing footprint in the Gulf region, particularly in the UAE.

He recognised the UAE not just as a commercial hub, but as a key growth market and a platform for innovation and sustainability. His belief in the nation’s vision of economic diversification inspired strategic collaborations that strengthened local industries while deepening India’s enduring partnership with the Emirates.

Hinduja also acknowledged the region’s dynamic reforms and its emergence as the ‘Capital of Global Wealth,’ aligning perfectly with the Group’s guiding philosophy of ‘think local, act global.’ Under his direction, the UAE became an essential regional hub for the Hinduja Group’s business expansions across the Asia-Pacific and beyond.

One of the Group’s most promising ventures in the region is Switch Mobility, formed through the merger of Ashok Leyland’s electric vehicle division and the UK-based Optare. The company exemplifies Hinduja’s long-term vision for a greener, smarter future. In line with the UAE’s sustainability goals and Saudi Arabia’s Vision 2030, Switch Mobility had planned trial runs of its electric buses and light trucks in both countries this year, signalling a new era of sustainable mobility in the Middle East.

Hinduja’s influence was never confined to business. He believed deeply in “business with a purpose”, emphasising philanthropy, education, and community empowerment as integral parts of success. His humility, spirituality, and people-first leadership style earned him respect across continents.

As the UAE continues to evolve as a hub for innovation and sustainable development, Gopichand Hinduja’s legacy endures in every partnership, investment, and idea that bridges nations for a better tomorrow. 

Gopichand Hinduja leaves behind his spouse Sunita, two sons Sanjay and Dheeraj, and daughter Rita.

Sources: India Today, Gulf News, PTI

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DP World ILT20 Crowns ‘Habibi & Habibti’ as mascot winners

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The DP World International League T20 concluded its first-of-its-kind Mascot Design Competition this week. The competition was held from 4 July to 21 September. 

The competition captured the imagination of students across the UAE. With an overwhelming number of entries, the activation demonstrated the extraordinary creativity, enthusiasm, and energy that cricket inspires among young minds, making it a truly nationwide celebration of sport, culture, and community. 

The grand mascot unveiling was held at the Sheikh Rashid Auditorium, Indian High School, Oud Metha. The winning student, Levin Veeroy Fernandes, was officially announced, and his imaginative design (Habibi and Habibti) was transformed into the official mascot of the DP World ILT20, now set to become the face of the league for seasons to come. 

The event featured an exciting reveal ceremony, with the student’s design brought to life and presented in front of a vibrant audience, celebrating not only Levin’s creativity but also the remarkable participation of schools and students across the UAE. 

The DP World ILT20 extends its heartfelt thanks to all participants whose contributions made this initiative a resounding success. Each entry brought unique ideas and perspectives, reinforcing the league’s commitment to inspiring young minds and celebrating the spirit of cricket. 

DP World ILT20 CEO David White: “On behalf of team DP World International League T20, I want to thank all the participants for their efforts. For us, all of you are winners, we are delighted with the interest that the competition created across the UAE. 

“The DP World ILT20 is all about UAE and the development of the sport amongst present and future generations of cricketers. Sport and cricket in particular has helped bring together a number of communities and nationalities across the UAE. Cricket has a four-decade long legacy in the country and with the continued growth of the league, the future of cricket not only in the UAE but across the Gulf region is bright and exciting.”  

Indian High Schools Group CEO Shri Punit MK Vasu: “Our partnership with DP World ILT20 presents a remarkable platform for our learners to witness world-class cricket in Dubai while embracing the deeper lessons the sport imparts.  

“At The Indian High Group of Schools, we uphold the belief that cricket’s enduring spirit fosters respect, discipline, leadership, resilience, teamwork, and composure under pressure, values that cultivate not only accomplished athletes, but also well-rounded, future-ready individuals prepared to lead with integrity, ethics and purpose in a global arena.” 

The DP World International League T20 Season 4 will begin on Tuesday, 2 December – UAE National Day (Eid-Al-Etihad) with a blockbuster opening, the six-team, 34-match tournament will conclude with the final on Sunday, 4 January 2026. 

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Royal Champs announce star-studded squad for Abu Dhabi T10 debut

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The Abu Dhabi T10 is set to welcome an exciting new entrant this season, Royal Champs, a team built on talent, tenacity and international flair. Led by cricketing legends and rising stars, the Royal Champs promise to bring a bold new energy to the fastest format of cricket.

The squad boasts a powerhouse lineup that blends global experience with emerging brilliance.

From England’s dynamic opener Jason Roy to Sri Lanka’s stalwart Angelo Mathews, Bangladesh’s talismanic all-rounder Shakib Al Hasan, and Australia’s explosive Daniel Sams — the Royal Champs are primed to make an immediate impact.

The team’s complete roster includes: Jason Roy, Angelo Mathews, Shakib Al Hasan, Chris Jordan, Daniel Sams, Mohammad Shehzad, Niroshan Dickwella, Rishi Dhawan, Liam Dawson, Brandon McMullen, Isuru Udana, Quentin Sampson, Rahul Chopra, Haider Razzaq, Zahid Ali, Kelvin Pitman, Vishen Halambage, Ziaur Rahman Sharifi, and Aaron Jones.

At the helm is Head Coach Sir Courtney Walsh, one of the most respected figures in world cricket, who brings decades of international experience, leadership and an unwavering belief in the game’s evolving dynamics. Head Coach Sir Courtney Walsh share, “The Royal Champs are more than just a new team, we are a statement of intent. This squad has the right mix of skill, fearlessness and adaptability to thrive in the high-octane T10 format. Our goal is simple — to play bold, entertain fans and compete with heart and integrity”

“T10 is redefining modern cricket, and the Royal Champs are here to be part of that evolution. Every player in this line-up brings something unique, and I believe our balance of experience and flair will make us a formidable force.” Head Coach Courtney Walsh added

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